A joint venture between Orbis Real Estate Partners and Ledo Capital Group previously acquired a 10.54-acre site at the corner of Kimball Road and Hellman Avenue in Chino. Late last year, the partnership commenced construction of 10 freestanding industrial buildings ranging from 8,083 to 23,670 square feet, totaling 133,527 square feet on the site.
Development will be handled by Orbis with Fullmer Construction as the general contractor. The project is scheduled for completion at the end of third quarter 2021.
The project will be offered on a for-sale basis and present owner-users with the opportunity to buy smaller freestanding buildings with private yards, a product type that has not been built in more than a decade in the region.
During the escrow, the venture completed a lease with 7-Eleven for a gas station and convenience store at the hard corner of Kimball and Hellman. This will allow the partnership to reduce the originally planned 12 building project to 10 buildings, creating further value through the offering of one additional retail drive-thru pad adjacent to 7-Eleven.
Colliers was the broker in the acquisition transaction.
Lisa Brown has more than 30 years of experience in corporate communications and marketing management with organizations including Grubb & Ellis, Marcus & Millichap and NAIOP.
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